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FOX Business After the Bell

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Paul Volcker 9, Google 8, Us 7, S&p 6, New York 6, U.s. 6, Peter Schiff 6, Apple 4, Geico 4, Ho 4, Kodak 3, Robert Wolf 3, Aig 3, Robert F. Kennedy 3, China 2, America 2, Italy 2, Europe 2, Washington 2, Unitedhealthcare 2,
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  FOX Business    FOX Business After the Bell    News/Business. Stock  
   market updates. New.  

    December 10, 2012
    4:00 - 5:00pm EST  

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there was some news today about what has happened with the traffic they have had that they never had before. moving the stock over $90 per share. nicole: they anticipate they would be the day of 19 million packages, that would be a record. it would be a record for fedex shipping. most packages ever. a lot is because of e-commerce. david: congratulations to everybody at federal express. liz: ups not doing so badly. let's take a look and see how the stocks are finishinggup, dow jones just feel dust feels cutts in half over the past hour. they were from 24 to 32 points. a gain of about 14. yes&p a half of a point squeezed out. the little bit of green elsewhere, but this was the
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narrowest trading range since september that we have seen. david: it is nice to see nasdaq back in the green. many people thought if president obama won reelection they would pummel. it hasn't happened today. call is on fire. up significantly with almost a 10% increase. a good day for coal stocks. liz: longtime priceline and deutsche bank pushed the shares could hold from buy. saying they believe a cold war is brewing among the travel sites. really bitter competition. but in these two deals and the moves coming out o in the next couple of months and that might affect the company negatively. wall street counting down the hours the fiscal cliff deadline, we have somebody who says this isn't the real fiscal cliff at december 31 isn't the real deadline to watch. we will tell you what it isn't
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how you might want to play it. david: how do i go flyfishing with paul volcker? or maybe lunch with business titans. how you can do those experiences with some of the top minds. liz: what drove the market with the "data download." david: if it is in ontana, i would take it. liz: stocks pushed into the green with all the major indices pushing into the green. longest winning streak in nearly two months. potatoes and industrials were the top perffrming sectors while they could not quite get it. oil for the fifth day in a row slip into a three-week low on concern over the italian prime minister resignation soon and
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the impact on europe's debt crisis. crude and in the day down $0.37 $85.56 per barrel. gasoline has come down $0.10 over the past few weeks. korn falling to a three-week low so far i'm growing demand overseas for supplies from the u.s. soybeans also dropping on slowing demand. david: peter kenny, to see his communicates, some of the best material on what is happening in the market around the world. we have him here live. and peter barnes with the latest developments on the fiscal cliff negotiations, but let's art in chicago with john, two very interesting situations continuing, drama over the fiscal cliff in d.c. and also this week we have the fed meeting. which is more important to the market? >> eventually it will be the
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fiscal cliff that is more important to the market, but make no doubt about it, the fed meeting with the announcement wednesday morning and wednesday afternoon is going to continue to support risk assets. you were talking about how the dollar is melting up for the fourth consecutive day. the federal reserve will make a very active effort to continue to support risk assets. whether they're equities or commodities. the metals market had a very positive day, recovering a bit with the damage done last week. risk assets are doing well, but over the fiscal cliff for sure in december. liz: the fed, the fed, the fed. they're not going to do anything, but they might announce some sort of easing that is what we constantly talk about and wonder because that has been the trade. with it had a decent rally, the market up double digits the past year and a half very much in part because of the fed pillow put under there. what do you think happens and will there be tougher trading until then?
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announce a purchase program about $45 billion per month. that will accompany mortgage-backed buying program announced it is september cme. the fed will be buying up about $90 billion in securities between long dated treasuries and mortgage-backed securities so the fed balance sheet by thie financierthistime next year shor to 4 trillion is compared to where it is today close to 3 trillion. they will continue to monetize the debt, as you and your viewers should know, this debt will not be sterilized so bank balance sheets will continue to expand. lots of capital chasing even fewer yields in the market and that in itself will support risky assets in support equities. david: peter, let me go to you for a second. we had this meeting between john boehner and obama.
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various rumors that he was accomplished or not. i don't know. is that affecting the market at all? where did this i debt as a chatr in the background? >> it is chatter in the background but we have had no volume, very little market. it is exceptionally tight. there is very little institutional involvement in equity markets because of what is going on in washington and of course a whole variety of other factors involved but the fiscal cliff conversation is kind of a watch and see. there is nothing new the horizon. the calendar is running against them, but that does not mean anything will actually get accomplished. liz: peter can't mak, make yourn what to buy. does not matter there is all this uncertainty, there's always a trade, always a play. make the case for why. >> the fed is supporting risk and the metals have had a great day today.
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frankly i love precious metals. that's a much industrial metals does we will be in for a tough play. especially december closing out in a negative despite the year-to-date performance which has the nasdaq you have to be all up very handsomely. in december closes to bee3 negative for the month due to effect next year is the first yeer in the presidential four year term we could have some very stiff headway. liz: you se said a metals did it beautifully. hold up half a percent for gold futures, high-grade up about a percent. decent data out of china. define beautifully. now we're back about 1700 for gold, but where does it go for here? >> you can see gold over the next year we could see it very definitely outperforming equities to the tune of two to 3%. if equities put in a positive year next year, which would be a bit of a surprise given the
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historical data that would support a negative performance and given the fact industrial production is sweeping in the eu, gdp in the u.s. has hardly been status. it seems to be with guidance what is is in earnings what they are, i think you could see gold definitely outperform equities two to three multiples. if the fed continues its current policy of supporting risk. david: which they probably will. let me reach on backend because following commodities as close as anybody. john, what do you think of that, is it conceivable in 2013 we may see commodities, particularly cold do better than or maybe even twice as well as equities? >> i think there's little doubt that will happen, david. i would throw into the argument that we live in a world right
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now where central banks are competing with each other to devalue their currencies. it is only way to really generate and get in the economic growth. with central bankers raissd themselves to zero, gold only has an upside. >> i could not agree with him more. $1800. ittmakes total sense if you look at the corded central banks around the world are doing. where else are you going to go? david: great to see you. we will see more with you coming up. thanks, gentlemen. liz: only three weeks before tax hikes and spinning cuts will take place the fiscal deal is not reached. david: the president and the house speaker meeting.
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president obama changing his tone a little bit mentioning compromise. peter barnes in washington with the latest. they were saying we believe actions, we have heard so much chatter, we can't really bet on that. >> right now we're just hearing chatter. the president speaks to senate democratic leader harry reid, we have learned. meeting yesterday at the white house with a speaker banner an in a speech in detroia couple of hours go the president extended little olive branch to the republicans. >> i have said i would work with republicans on a plan for economic growth, job creation and reducing our deficits. and some compromise between democrats and republicans, i understand people have a lot of different views, i'm willing to compromise a little bit. >> i spoke to an aide to one top
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republican leader who was a little bit upset by the comment the president would be willing to compromise a little bit. the white house did not disclose any details of the meeting with the president and the speaker yesterday only confirmed that communications remain open. tim john boehner remaining discussions are in place. david: the president said some things about a year ago that sounded like a perfect compromise. let me get your reaction. this was about a year ago. >> what they said was give us 1.2 trillion in additional revenues. which could be accomplished without hiking taxes tax rates. this could simply be accomplished by eliminating loopholes, eliminating some deductions and engaging in a tax reform process that could have lower rates generally by broadening the base. david: if i were to hear that today i would say there is the
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compromise, they did it. but that was a year ago, what happened? >> those we talke who talks ford bargain. the president is demanding 1.6 trillion in new revenues. call me crazy but sometimes politicians from both parties say one thing one time and then i sa said something different another time. different circumstances. liz: there is the sound bite. why not just do that, which is what we had. right? >> lot of analyst think that is where they will end up. david: you go out shopping for a car and you don't take a deal and a year later he said i will take that deal. note: i have to pay $1000 more. good to see you, thank you. while the investor world is watching the clock takedown, peter schiff said surreal cliff
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is not december 21, he will tell us what it is and how you can play it. liz: this will be our third year. and how could you not bid on that? wants to give the federal reserve a piece of your mind? what f you had the ear of paul volcker or questions on how he solved stagflation in the 80s. we will tell you how you can spend a day fly fishing with him and tell him what you really think. david: the best federal reserve president in my lifetime. while many fear failing to fix our debt crisis could lead to a severe economic slowdown, there is one area where they may actually benefit if we go off the cliff. quite a contrarian argument. you will hear from a car expert coming up. [ malennouncer ] th is amy. amy likes to invest in the market.
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liz: s&p futures closing right now, let's get a window into how the trade might react tomorrow. >> s&p futures higher in the last 90 seconds of trade. up $2 on the day now about four and a half. going into the asian trade tonight, you will still see investors come into the market to support the global equity market. china received strong economic data over the course of the weekend. looks like they were still looks to be behind the market. look for mike to come off the sidelines. the question is what going to become o of the circus known as the political situation in italy but really we do think futures will trade higher again. liz: thank you, john, good to see you. david: shares of diamond foods following double-digit lead. nicole petallides with details as to why. nicole: you think of diamond foods you think of the peanuts and the top-secret popcorn. it really is a household name
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they came up with numbers in the fourth quarter loss, not good news. that is why the stock was tanking today. all kinds of charges they had according to an accounting scandal investigation, that actually hit their numbers as well. this is why diamond foods was coming under some significant pressure today. back to you. david: president obama visiting a michigan auto plants today discussed in a fiscal crisis. our next guest argues in the long run they could see strong auto sales if ther there's no d% all. joining us now, edmunds.com chief economist. good to see you. how would we be better off if we go for the fiscal cliff at least in auto sales? @> we're better off because we're taking hard medicine now. do we want pay now and better later, or suffer now and not be better off later.
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lots of fixing to do. if we get a stronger growth path for taking more heart medicine now, that bodes well for the entire economy including auto sales. david: your bi are basically wht a compromise compromise will not solve anything. right? >> or worse, some that just extends the uncertainty. eventually compromise anything. no compromise at all because that is what is killing us right now, we're just played with this vast amount of uncertainty. business is almost paralyzed afraid to move forward with hiring, investing and is paralyzing the whole economy really been abll to move forward. david: how many folks are really postponing auto sales because of concerns about the fiscal cliff? i don't hear a lot of people here in manhattan said i will not buy that because of the fiscal cliff.
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>> at this point we are not seeing a lot of it. auto sales have been really strong including the fourth quarter. we have seen record numbers post recession, and we're looking for a really strong year with 14.4 million within 14.5 million, so be our strongest year since pre-recession. david: hurricane sandy, so one figure that said it may have cost the lives of 250 cars. not all of them will be replaced, but most of them will be. it is an awful way to get it, but a boost for the auto industry, right? >> absolutely. many will be new cars, so you're looking at a nice boost in sales and the good thing is because these cars had they been replaced the normal cycle would noandnot have all come at once. do not take a bbg piece of the future buying cycle. a nice silver lining.
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david: now chrysler is an italian car company. the italians, the parent company is going to awful times. quitting because of the sales. is there any possibility. now they are not supposed to do this, but is there any possibility tie-ins will pour some of the profits they're making from chrysler here and use them to pay out the parent company in italy? >> i suppose the possibilities are always there. certainly talking about a global company to the extent you're doing better in one market and then another is always a bit of shifting around. at this point i think north america for all the automakers has really become a strong point. hopefully we can move forward, result in undermining uncertainty and go into a strong 2013 in terms of auto sales.
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david: the u.s. may be doing well but europe is doing terrible. chief economist, thank you very much, good to see you. it has been a rough year for corporate america with the government fining businesses $1.1 billion in antitrust funds. we have the exclusive details. liz: ever wonder what it would be like to work in an office with treadmill desks? free candy and a rock band break room? how you can spend a deal at facebook campus and meet with senior executives who play all the games and hang out with the biggies. we'll tell you how you can do this. stay tuned.
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>> you can add limited brands ls the company's paying early dividends to avoid higher taxes next year. making the announcement a $3 special dividend, $3 per share special dividend payable december 26. limited brands operating victoria's secret, paint, bath and body works among others. december 26. david: a nice 2% pop after hours because of that.
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liz: government finding businessefiningbusinesses a recs year forcing firms to fork over $1 billion in criminal fines. david: this exclusive fox business story. >> does the largest one-year total in 122 year history of the antitrust act. the analysis provided exclusively to fox business confirmed by the justice department says the government has handed down more than $1.1 billion in criminal antitrust penalties over the 2012 fiscal year. price-fixing in auto parts and lcd screens. the former director says 2013 could net the government even more in fines. >> to look at what is going on in the antitrust area particularly given the auto parts investigation in efficiency and wide-ranging investigations that have been widely publicized like liber
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investigation. >> tell these are a result of international investigation. a quarter are from european businesses. only 17% are from companies based in the americas. thank you. liz: thank you very much. david: or gets december 31. this means is a real deadline may not be coming for months, but when it does come it will be bigger than the housing bubble and the financial crisis put together. here to tell us what i is coming next. liz: do you want to buy some time to take the minds of financial experts? over a really nice caesar salad. tell us how you can win a private lunch with wall street heavyweights. the list goes on at this auction, wait until you see.
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individualize your sleep. perfectly comfortable pillows that adjust to your size and shape. temperature-balancing bedding. dual wmth comforters all designed around the sleenumber bed: a bed with dual-air technology that allows you to adjust to the supportour body needs. each of your bodies. inhe namof human individuality: the sleep number collection. discover how our sleep professionals can individualize your sleep experience. exclusively at one of our 400 sleep number stores nationwide. sleep nuer. comfort invidualized. this holiday season, give thgift that's magical: the innovative airfit adjustable pillow at specl 30% savings. david: time for a quick speed read of some of the day's other headlines. five stories, just one minute. chinese investor group buying a 80% stake in aig's aircraft business for $4.2
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billion. this deal comes as aig attempts to pay back its $182 billion bailout. ford motors is correcting an engine problem in its 2013 escapes. nearly 90,000 vehicles are affected by faulty cooling systems creating a fire risk. voluntary recall has been in place since november 0th. the organisation for economic co-operation and development seeing economic growth pick up in the united states and britain. the agency is expecting weak growth ahead for germany and france. pay for presidents of private colleges rose from the year prior. the president of the new school is the highest paid in the country. that is right here in new york city at more than $3 million. national hockey league is canceling its regular season through december 30th, i know, due to lack of collective bargaining agreement. 526 games, more than 40% of the season has been canceled. that unfortunately is that [buzzer] that is end of today's speed read. liz: it is disgusting.
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it is horrifying. we don't seem to be any closer to a resolution on the fiscal cliff even though many are warning that the economy could face dire consequences if there is no agreement but one strategist says, why are you worrying about december 31st? that deadline isn't even the real fiscal cliff. david: that strategist is none other than peter schiff, ceo of europacific precious metals. friend of the show. peter, although i wish it was under better circumstances. you say the real cliff coming is bigger han the housing mess, bigger than the housing crisis we went through. it's the bond mess. specifically when the fed stops printing money to buy up treasurys all hell will break loose, right? >> well, and if it continues to print money it will be a bigger hell. if we avoid the fiscal cliff we end up throwing the dollar over the currency cliff because we send a message to the world america will never pay its bills. we'll keep borrowing money
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until the creditors cut us off. that is when interest rates skyrocket. the pressure on the fed and if the fed caves in to buy up all the bonds nobody wants we destroy the dollar. that is even bigger crisis than if we let the bond market collapse and let it take the economy with it. liz: let's not start so macro. we're throwing out this term the bond market. a lot of our viewers on treasurys what specifically are you talking about? the entire yield curve? >> well, the government is borrowing over a trillion dollars a year right now and i put borrowing in quotes because borrowing implies that you will pay it back. we will never pay it back. we can't pay it back. that's why we have to raise the debt ceiling because we can't pay our bills. we have to borrow more money from the same people who loaned us money in the first place. it is a giant ponzi scheme. liz: what would cause the back to break of this scheme that you call it? >> well, as creditors don't want to buy treasurys and only buyer left is the
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federal reserve, i mean you still have foreign central banks. but they will back away. if the fed is the only buyer it has to print an enormous amount of dollars to buy upp3 all the maturing bond and all the new bond and that sends the dollar collapsing and prices skyrocket and then the fed can't maintain the pretense there is no inflation because prices are rising faater than you can see them. then all of a sudden the fed has to do something. it can't sit there and tolerate inflation. if it does anything, if it raises interest rates it causes bigger financial collapse than 2008. david: hey, peter, talk about how we measure things. might sound like a theoretical discussion, but very real or practical looking at your 401(k) or your portfolio. look at the s&p, for eeample, how that did, you think, gee, it is up double digits. that is how i measure value by the dollar amount but you say that is a bad way to measure the value of what you have. measure it relative to the
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rice of gold. by the price of gold the s&p hasn't done as well, right? >> something of objective. david: peter, hold on. what we're seeing now, that blue line is how the s&p has done, if you measure the s&p in the value of gold. the yellow line in dollars. as you can see the gold value is not as good. go ahead, peter. chart is, i can't see it. in it goes back 12 years. david: just a year. it is just a year. >> i mentioned, they just announced they will praise the rise of a subway ride to $2.50. how is the dow doing in terms of that? i remember when i lived in the city, when i was there i was paying 50 cents to ride the bus and 25 cents on sundays. so that is huge increase. purchasing power is being lost. david: i just went to pennsylvania over the weekend from new york. $13 in the long continue nell to get back into new york. $13, the price of government. liz: try going from
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new jersey to new york every day. poor now, let's put it this way, peter. you talk about a dollar kraub? people, look, is that a really fair assessment to call it a crash? you really expect that? >> well it hags int crashed yet. it has gone down. people forget the history of the dollar but when nixon --. liz: don't go day by day. every time it falls it rises again. >> my point in 1971 when we went off the gold standard the next seven or eight years the dollar lost 2/3 of its value. that's why oil prices went from $3 to $30. that's why we had all the inflation of the 1970s. i think decline coming for the dollar will be much bigger han what we saw in the 1970s. the fundamentals are much worse. over last five years, 10 years the dollar has been going down. pick up a chart. the australian dollar, you need $1.5 to buy a australian dollar. you used to buy them for 50 cents not too long ago. the dollar is going down.
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can't just look at euro. they're having problems. you know what? the dollar is also going down against the euro. liz: we'll be watching this and very closely as peter schiff says, hey, peter, you can go fly fishing with paul volcker, what would you ask him if you bid on that for the rfk auction? >> i don't know. i'm still disgusted over $3 million that guy made working at that college in new york city. i like to raise his taxes. david: absolutely. a lot of those guys don't pay anything. peter schiff -- >> they don't work either. they're like no-show jobs. david: before i shoot myself i will have to say good-bye to you. peter schiff, europacific capital. did you ever want to know what happens behind the scenes at the fed or go off about its policy? you may be able to with former federal reserve chairman paul volcker. that is one federal reserve chairman i think even peter schiff would like and come to spend the day with. i don't know if paul volcker would like that.
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you would have a chance to do this. liz: you could go fly fishing. right now bidding at $3500. robert wolf of 32 advisors? have lunch with him and bill ackerman of pershing. keri kennedy coming up, she is supporting the robert f. kennedy center. it is all for a good cause. stay tuned, believe it or not rivals apple and google are partnering up. david: no. they hate each other. liz: could this be the first of many dances between the two tech giants? doubtful! shibani joshi will have details. stay tuned. ♪
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>> i'm adam shapiro with your fox business brief. the "wall street journal" reporting u.s. authorities are preparing to announce a record $1.9 billion settlement with hsbc to settle multiple investigations that the bank ignored possible money laundering. hsbc admitted to poor money laundering controls last summer following a u.s. senate investigation. the journal reports that the settlement could be announced as early as tuesday. petsmart and limited brands are the latest in a long list of u.s. companies offering special one-time payments or accelerated dividends before scheduled tax hikes in the new year. petsmart declared a special dividend of 16.5 cents a share payable to investors december 30 first. it would have been payable in february. that is the latest from the fox business network, giving you the power to prosper
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liz: so the robert f. kennedy center for justice and human rights is holding its annual holiday auctions. this one's amazing for business viewers. it is ending tomorrow. this year the fund-raiser is featuring a whole bunch items with financial leaders one of whom joins us right now. robert wolf is the ceo and founder of 32 advisors and formerly the head of ubs americas, and kerry kennedy is the president of the robert f. kennedy center. welcome to you both. i ran into kerry backstage at a show on broadway. you talked to me and said your viewers would love this i started to look at the offerings i want half of this stuff. first talk about the center and where the money goes. >> well, this is the rfk center --. liz: we have breaking news. we'll get back to it in a second. adam shapiro on the treasury. >> it involves aig. the u.s. treasury is announcing public offering for all its remaining common
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stock in aig. the treasury department says after the remaining 234.2 million aig shares it will still hold warrants to purchase aig common stock. liz, back to you. liz: we'll be watching as the stock trends down a bit in after-hours. what you were saying about the center and where the money people will bid on? >> this is to carry forward robert kennedy he is unfished work. this is for schools across the country and around the world and teaching kids about stopping bullying and human rights. we do grassroots human rights work. we're trying to stop the anti-homosexuality bill in uganda which would make homosexuality punishable by the death penalty. liz: have you accomplished some of the things you've set out to today the? >> absolutely. we freed prisoners from south korea and kenya. we created change on basic human rights issues around the world and in the united states. liz: but it all requires money.
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>> exactly. liz: here is where the auction comes in. so the beneficiaries as we put it up on the screen are from some amazing internships and experiences. you see a lot of these in new york but let's get to the first one. it is right up our viewers alley. have you ever wanted to have lunch, a power lunch with the ultimate financial titans one of whom is with us today, robert wolf, a board member as well. you and bill ackman of pershing and i love this group of people. you've got, okay, aside from you two. >> we've got mark la serrie at avenue. tony james the president of blackstone. obviously you mentioned bill at pershing. that is one, that luncheon is one of the auction items. liz: where is the lunch will be. we made it look like in my grandmother's saskatchewan. >> we'll do where the person wants in new york. we can't wait. we're very excited. took one phone call to bill, mark and tony to say this is
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for the rfk foundation. when you see things they're doing especially with medicine going to haiti and things like that, virtually actually. web-based ideas, it is just an easy sell. for me i was named after her dad. i'm robert. my brother is john, born 62 and '60. easy to be part of this. we called up paul volcker, obviously everyone in the country wants to hear paul's view on different things. liz: here's why. he solved stagflation in the '80s and saved our country in so many ways. interest rates were high but he figured it out. this is an incredible experience. fly fishing, the catskills with paul volcker. >> at his country club called balsam lake. it is, you get to go fly fishing two people with paul volcker for the day. we have --. liz: by the way. it is $300 right now. your lunch is trending at
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$10,500. >> by the way, we should be clear. if any of these individuals are being honored at a charity event, you wall street salesmen, it would be 25 to $50,000 just po be at a table to hear them speak. this will let you sit down with all three of them at once. >> we have over 85 different auction items. if you by this one or paul volcker, you will make enough money. liz: mort zuckerman is a guest all the time. for anybody who wants to become a star in the real estate world, boston properties, breakfast, power breakfast with mortgage. mort. >> meet president clinton and obviously everyone wants to hear from former president clinton especially he solved the fiscal cliff if we recall. many years ago. liz: we had a nice surplus back then. >> yes, we did. liz: behind the scenes at facebook is another one. is this newer item? >> never had this one before
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and this with the top executives there and that's going to be a great time. liz: mark zuckerberg, will be there? >> we're not promising that but you will have to go and find out. >> lunch last year was the second highest bid outside of a meeting with the pope at the vatican. so we have 24 hours to get this up. okay? substantially. liz: 24 hours, everybody. before we go, you, bob have been known as the president's ear right for banking. >> i'm very close to him. liz: what is happening with the fiscal cliff, him and boehner. >> listen, they have had great meetings with ceo's. they have had three meetings with ceo's. the president wants a deal. boehner wants a deal. i think it has to be balanced with revenues including increased rates on taxes. i would say at like 75% that there's a deal. liz: well, there's a deal tomorrow when this auction is up. they're incredible. internship at chanel. come on you know a kid that wants that.
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incredible offers. good luck. good work you're doing, kerry. >> thank you for doing this. liz: kerry kennedy. oh the website, rfccenter.org. >> rfkcenter.org. liz: then you will click on it and see where the auction is. go falconning with rfk, jr., her brother. that's what you would like? david: i would like to go falconning. i would have to bid. liz: 5100. david: that is not bad. for a good cause. liz: always. david: apple and google have become french mys. -- frenemis. they are on a bid for kodak patents. we'll have the details coming next. ♪ . [ male announcer where do you turn for legal matters?
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david: i had to read this story twice before i could believe it. two major tech rivals joining forces to buy patents from kodak. liz: you may be surprised by this odd couple and one of the companies is also making headlines today on outages of one of its flagship services. let's get to shibani. >> so many things to talk about here. this is story that makes you do a double-take here because these guys, google and apple do not play
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together well in the sandbox and virtually every other realm. apple has ipad. google has nexus 7. iphone and smartphone that google has. they compete on so many different levels but they know when to play fair and play nice and i guess it is in the area of patents of the apple and google according to various reports are teaming up together to buy a pool of 1100 patents we know the bankrupt kodak is selling out there, $500 million is the price tag. the reason they decided to come to their senses and play fair here, play nice is because when they were sitting on opposite ends of the table they were outbidding each other. they said, let's not do this. not spend more money than we have to. parse out which patents we want and play together. and that is exactly what they're doing. david: but their animosities are stronger than their willingness to work together, correct? >> absolutely. this is no cease-fire in any pay, shape or form. google is going at it. couple things coming out
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from google today. the company is going after a set-top box company, motorola home. talks it will go after that competing with apple. apple tv will be coming out, apple devices interactive television. google also in the news, i'm sure you guys noticed, google mail was down. david: it was. >> half an hour today. people getting shakes a little bit because they couldn't get access to their google mail. myself included, i'm speaking for myself here. and that was a hot story for google today. david: but that's over. >> that's over. david: shibani joshi. great to see you. thanks. liz: we have gotten lost trying to follow your gps but did you think your map service could be life threatening? that is what one company is saying about apple's mapping application. stay tuned. so now i can be in the scene. adva is clinically proven to help significantly improve
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